Faster processing generally means a reduction in overhead expenses. Technology has enabled organizations across the globe to expedite the manner in which they obtain and transcribe information, enabling executives and public authorities to respond to situations quickly. As far as procurement services are concerned, an electronic approach gives professionals the ability to oversee materials acquisition and human capital administration in a more thorough, accurate manner.

Taking financing to the next level

BizTech Africa reported that Kenya's National Treasury is prepared to launch an e-procurement solution in July in an effort to automate and accelerate the East African government's financial management procedures. Kenyan National Treasury Cabinet Secretary Henry Rotich told the press that the program is being implemented under the supervision and initiative of the Integrated Financial Management Information System. All purchasing, spend analysis endeavors and payments will surpass the limitations associated with manual operations.

"This will increase control and visibility over the entire life-cycle of a procurement transaction from procurement planning to payment," said Rotich, as quoted by BizTech Africa. "Electronic procurement will therefore play a key role in prudent government financial management and resource allocation."

Through the IFMIS, the National Treasury hosted nationwide training sessions regarding supplier relationship management between May 12 and May 21 in 13 different regions. Requisition administration, quotation organization, purchase order applications and a number of other tools will soon be at the disposal of nearly every government entity in Kenya.

Keeping track of health care assets

Medical industry participants handle a wide variety of complex, expensive equipment and pharmaceuticals on a daily basis. Losing items or unwittingly purchasing more costly options can detrimentally affect patients looking to receive care. This is one of the many reasons why the British National Health Service plans to roll out an e-procur​ement solution to help hospitals better monitor materials acquisition and expedite payments, Supply Management reported.

A study conducted by the United Kingdom's Department of Health claimed that although implementing such a system across every hospital in the country would take several years, widespread adoption of the technology would produce annual savings of up to £5 million per 600-bed facility. The new process would involve recording all products purchased by NHS providers, and require them to submit a monthly spend analysis detailing all purchase order transactions and accounts payable.

The DHS report went on to claim that frontline clinical care has always been supported by backend departments providing it with the goods and resources it requires. Therefore, it's time to illuminate and streamline this relationship.

Strategic Sourceror

StrategicSourceror.com is a leading industry blog that focuses on providing news, tips, and best practices for a variety of procurement, supply chain, and strategic sourcing categories.

This site is owned and operated by Source One Management Services, LLC; the leading consultancy providing strategic sourcing resources, procurement advisory consulting and procurement support services to hundreds of companies.

Continue to visit StrategicSourceror for your supply chain and procurement news and to see the latest tips, advise, and rants from the analysts, consultants, and category managers from Source One.

Thank you for your readership!

About Source One

Source One is a leading procurement services provider. Since 1992, Source One has been providing companies in all industries with sourcing services including BPO, Benchmarking, Spend Analysis, Category Support, and RFX Management.